Another question: it seems at AIG the grad scheme in London apparently requires applicants to have already passed one or more exams already and then it seems to suggest the grad programme begins in June 2017 - this seems strange? (http://www.aig.com/careers/students/students-job-search)

Is it possible to apply for Actuarial Grad Schemes if I am studying Accounting and Finance? Many schemes say Maths A-level as a minimum requirement and I'm wondering if I will be at a disadvantage for not studying Maths at degree level.

Is it possible to apply for Actuarial Grad Schemes if I am studying Accounting and Finance? Many schemes say Maths A-level as a minimum requirement and I'm wondering if I will be at a disadvantage for not studying Maths at degree level.

To the best of my knowledge bigger firms may indeed reject you as A level maths is a typical requirement (and some stipulate at least an A).

However I would have thought that if you studied accounting and finance your maths would be good enough. The issue is I have no idea what an accounting and finance degree entails or just how mathematical it is so what I'm saying could be completely wrong.

Have you thought about taking a less traditional route such as through agencies?

Is it possible to apply for Actuarial Grad Schemes if I am studying Accounting and Finance? Many schemes say Maths A-level as a minimum requirement and I'm wondering if I will be at a disadvantage for not studying Maths at degree level.

If you haven't done a Mathematical or Actuarial degree (I suspect A&F doesn't count), then A Level Maths is a requirment to join the Institute as a student member which you need to do sit exams.

If you don't have a mathematical degree or A Level Maths then you can sit the IoFA CT1 exam as a non-member which makes you eligble to join. However you would probably need to pass this before getting onto a grad scheme as I severly doubt a company would take on someone who wasn't elligble to join the IoFA.

If you meet the entry requirements of the Institute, then yes you can get on the Grad Schemes. I know people with A&F and even English degrees on them but it will be harder to impress them as people who have done well on maths/actuarial degrees are a safer bet when it comes to qualifying.

I just graduated this summer with a first in maths so I guess I'm fine on the academic side. I just don't know much about the industry itself. I know actuaries use mathematical models to predict and reduce risks. That's about it.

I don't have any relevant work experience. wondering if anyone could direct me to where I could learn about the actuarial industry.

I just graduated this summer with a first in maths so I guess I'm fine on the academic side. I just don't know much about the industry itself. I know actuaries use mathematical models to predict and reduce risks. That's about it.

I don't have any relevant work experience. wondering if anyone could direct me to where I could learn about the actuarial industry.

Investopedia is really good for explaining the business jargon, so if you find a word you don't understand type it into the investopedia search bar and its usually good at explaining it. It also has guides for insurance and pensions. try typing in actuary into investopedia as well.

(Original post by hunderfert)
I sent off my application for Ernst & Young 4 working days ago and still have not received a reply. How long do you think I should wait before contacting them to see if they have discarded it or not?

Sent mine off 2 weeks ago and still not heard anything so I wouldn't worry.

(Original post by hunderfert)
I'm a little concerned. Someone I know sent off thier application to Ernst & Young yesterday and got a reply today inviting them to take the online tests.

Was that person applying for actuarial services? I wouldn't start worrying yet if not. I sent my application to EY on the first of September and am yet to receive more information.

I have a friend who's an actuary at PwC and he said there, for instance, the actuarial division work completely differently to other divisions in their recruitment - that means they won't start looking at applications until at least mid-October period. So, if you've passed the tests like I did and got an email saying you'll receive more information in the next 5 working days, don't trust it completely as it is automated and is generalised to every department (when strictly speaking that's not how things work).

(Original post by Paraphilos)
Was that person applying for actuarial services? I wouldn't start worrying yet if not. I sent my application to EY on the first of September and am yet to receive more information.

I have a friend who's an actuary at PwC and he said there, for instance, the actuarial division work completely differently to other divisions in their recruitment - that means they won't start looking at applications until at least mid-October period. So, if you've passed the tests like I did and got an email saying you'll receive more information in the next 5 working days, don't trust it completely as it is automated and is generalised to every department (when strictly speaking that's not how things work).

He's not applying for actuarial services so thanks that is reassuring.

So you sent your application to Ernst & Young and were invited to do tests and passed them and haven't heard since? How long was it between sending off your application and being invited to take the tests? It's been a week now since I sent mine and haven't heard back inviting me to take the tests.

(Original post by hunderfert)
He's not applying for actuarial services so thanks that is reassuring.

So you sent your application to Ernst & Young and were invited to do tests and passed them and haven't heard since? How long was it between sending off your application and being invited to take the tests? It's been a week now since I sent mine and haven't heard back inviting me to take the tests.

Just completed the first round of so-called situational strengths, business behaviour and mindset tests for EY. Took me like an hour or so to do them. Just feels demoralising to spend so much time on that and then be told you don't fit the company (I'm awaiting this type of response since that is what normally happens to me in SJT).

(Original post by Paraphilos)
Just completed the first round of so-called situational strengths, business behaviour and mindset tests for EY. Took me like an hour or so to do them. Just feels demoralising to spend so much time on that and then be told you don't fit the company (I'm awaiting this type of response since that is what normally happens to me in SJT).

Yep I know the feeling. Spent 3 hours the other day on an application only to receive an automated reply saying that they are only looking to higher people immediately and I should apply back when I graduate.

Well if that's the case you would expect them to state it on the website but no they don't. Morons.

(Original post by Paraphilos)
Just completed the first round of so-called situational strengths, business behaviour and mindset tests for EY. Took me like an hour or so to do them. Just feels demoralising to spend so much time on that and then be told you don't fit the company (I'm awaiting this type of response since that is what normally happens to me in SJT).

When did you receive an email from EY? Did you attach your CV to the application?